Atlantic Union Bankshares Co. (AUB) To Go Ex-Dividend on November 14th

Atlantic Union Bankshares Co. (NASDAQ:AUB) announced a quarterly dividend on Thursday, October 30th. Investors of record on Friday, November 14th will be given a dividend of 0.37 per share on Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, November 14th. This is a 8.8% increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.34.

Atlantic Union Bankshares has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 14 years. Atlantic Union Bankshares has a payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Atlantic Union Bankshares to earn $4.17 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 35.5%.

Atlantic Union Bankshares Price Performance

NASDAQ AUB opened at $32.74 on Wednesday. Atlantic Union Bankshares has a one year low of $22.85 and a one year high of $44.54. The stock has a 50-day moving average of $34.62 and a 200 day moving average of $32.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 14.29 and a beta of 0.93.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The company had revenue of $319.21 million for the quarter, compared to analysts’ expectations of $377.92 million. During the same period in the previous year, the business earned $0.83 EPS. The business’s revenue was up 69.8% compared to the same quarter last year. On average, sell-side analysts forecast that Atlantic Union Bankshares will post 3.26 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. TD Cowen cut their target price on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, October 27th. National Bankshares set a $46.00 target price on Atlantic Union Bankshares in a report on Wednesday, September 24th. Morgan Stanley boosted their price target on Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Atlantic Union Bankshares in a research report on Friday, October 24th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and an average target price of $40.61.

About Atlantic Union Bankshares

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.